Property Overview: 551 Mcadam Avenue, Winnipeg
Key Characteristics & Appeal
This 1984 bi-level home at 551 Mcadam Avenue presents a practical and modern opportunity within Winnipeg's Jefferson neighbourhood. Its key appeal lies in its relative newness compared to the area; built in 1984, it is significantly newer than most homes on its street and in Jefferson, which largely date to the 1940s. This suggests potentially fewer concerns with aging infrastructure. The home features a renovated basement and a detached garage, with a living space of 807 sqft situated on a modest 2,997 sqft lot.
The property’s assessed value is strong for the Jefferson area, ranking above average, indicating good municipal valuation relative to immediate peers. However, the living space and land area are below average for the local context, highlighting a compact, low-maintenance footprint. This combination suits first-time buyers, downsizers, or investors seeking a modern(ish), entry-level home with updated basics in a well-established neighbourhood. It offers a chance to own a structurally younger home without the premium of a brand-new build, ideal for those who prioritize interior condition over expansive square footage or yard size.
Frequently Asked Questions
1. Is the home's below-average living space a significant drawback?
Not necessarily. The 807 sqft layout, combined with a renovated basement, provides functional space for individuals, couples, or small families. The efficient size often translates to lower utility costs and less upkeep.
2. How meaningful is the 1984 build year in this neighbourhood?
Very meaningful. In a neighbourhood where most homes are 40+ years older, a 1984 build can mean more modern wiring, plumbing, insulation standards, and overall building materials, potentially reducing immediate major repair risks.
3. The land area is noted as below average. How does this impact the property?
The lot is compact, which minimizes yard maintenance—a plus for those seeking a low-maintenance lifestyle. It may limit options for large additions or extensive landscaping but is typical for efficient urban living.
4. What does the "above average" assessed value in Jefferson indicate?
It suggests the city's assessment aligns the property's value favourably against many in Jefferson. This can be a positive indicator of its standing in the local market, though market sale price is determined by buyer demand.
5. Who would this property not suit?
It may not suit buyers needing multiple large bedrooms, dedicated home office spaces, or those who desire a large garden, workshop, or outdoor entertainment area due to the smaller interior and lot size.